Property valuation

The property I have recently bought had been on the market for two years. It was advertised several times on a local newspaper. It was also given to four different estate agents to try to sell it. I bought this property for the full advertised asking price, not a penny less.

Yet, after inspecting this same property, the government-appointed architect valued it Lm10,000 higher than the truly declared buying price. This has resulted in a fine of Lm550, money that I cannot afford and have not budgeted for. To add insult to injury, if I do not pay this fine in 90 days the amount would go up and even double.

When I enquired I was told that this is the true market valuation according to the architect!

I can only draw two conclusions out of this situation. Either the government is putting pressure on these architects to revise amounts upwards irrespective of what the real value is, or else these architects are not properly educated or qualified to judge the market.